Sunday Observer Online


Sunday, 24 August 2014





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CML-MTD to launch housing projects

A CML-MTD official with the BOI Chairman.

CML-MTD Construction Ltd has set up a BOI venture to launch housing projects under the Urban Regeneration Plan of the Urban Development Authority. The BOI company has been successful in sourcing foreign funding for its projects. The initial scope of the project comprises the construction of 5,000 housing units under the Urban Development Authority's Urban Regeneration Plan, for the relocation of the underserved settlements in Colombo. The plan aims at transforming the lives of 400,000 people by providing them with housing units with modern amenities.

The company has sourced funding from the EXIM Bank of Malaysia and has initiated Phase I of the project to construct 1,650 housing units with a contract value of Rs. 5.7 billion (US $ 43.3 million).

The use of the latest technology such as Integrated Building Systems (IBS) will enable faster construction, save costs and improve efficiency. In essence, there will be a full transfer of technology using local resources and personnel.

CML-MTD Construction Limited, Deputy Chairman, Jehan Amaratunga and Managing Director and CEO Dian Jayasuriya, who are also Directors of the BOI Company, said that they will capitalise on the larger MTD Walkers PLC group synergies to harness the Group's expertise in delivering the services of a fully integrated infrastructure and engineering solutions provider.

While CML-MTD Construction will undertake 100 percent of the design and build works, the overall group synergies will ensure that Walkers Piling (Pvt.) Ltd and Walkers Sons and Company Engineers (Pvt.) Ltd, two subsidiary companies under MTD Walkers PLC, will also play a vital role in the project.

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